Yandex's net profit for the first quarter of 2024 increased by 47% to RUB 19.37 billion from RUB 13.19 billion a year earlier. Revenue increased by 40% to RUB 228.3 billion from RUB 162.9 billion. Adjusted net profit amounted to RUB 21.57 billion against RUB 8.17 billion. This is stated in the company's message.
The Search and Portal segment showed revenue of 93.6 billion rubles (+38%), E-commerce, Ridetech and Delivery - more than 122 billion rubles (+39%).
Yandex is a Russian multinational information technology company. The Yandex search engine is the fourth among the world's search engines in terms of the number of queries processed.
Despite the revenue growth, Yandex LLC made a loss of 58 billion rubles by the end of 2023, compared to 50 billion rubles of profit a year earlier. At the same time, the company's revenue increased by 120 billion rubles to 422 billion rubles. Such data are contained in the published RAS reports.
On March 7, 2024, the shareholders of Yandex N.V. (the Netherlands) approved a deal to sell part of the Yandex Group's business and changes in the corporate governance structure.
